NAMA prediction of €4.8bn profit cut to €800m loss

NAMA’s promised profit of €4.8 billion was dramatically slashed to a potential loss of €800 million yesterday.

NAMA chairman Frank Daly expressed anger as he unveiled the agency’s revised business plan and said he was “disturbed” institutions had failed to realise the size of their debt exposure.

Only 25% of the €81bn of loans transferred to NAMA will produce any revenue at all, rather than the 40% promised just last October, it emerged after the agency probed the true state of the finances the taxpayer had taken on.